From my experience, iCloud is too slow and unreliable to sync Keyboard Maestro. But Dropbox sync works really well.
There have been a few threads on this over the years such as this one:
I was hoping iCloud sync might be better now, in 2026 but it looks like it isn't. It works really well for Apple's own apps like Photos, Notes, Calendar and Contacts.
I think Dropbox still offer a free basic account which would work fine for syncing Keyboard Maestro.